Data Breaches

Industry studies show that data breaches cost small to medium businesses an average of $200,000.* These costs include customer notification, fines, investigation costs, defense attorney fees and the expense of providing affected individuals with a year of identity theft monitoring services after the breach.

Protect Your Business

  • Provide data security training to all employees;
  • Run automatic network virus scans and antivirus software updates;
  • Download the latest operating system and software updates and patches;
  • Purchase data breach insurance and consider cyber liability insurance and technology errors and omissions policies;
  • Purchase umbrella liability coverage as a backstop for data breach insurance and other insurance policies. Umbrella coverage kicks in when the claim is greater than your primary insurance coverage limits and is generally very affordable.

*Hiscox Cyber Readiness Report 2019.